Constitution Capital LLC Cuts Position in Sysco Co. (NYSE:SYY)

Constitution Capital LLC trimmed its holdings in shares of Sysco Co. (NYSE:SYY) by 5.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 18,297 shares of the company’s stock after selling 1,100 shares during the period. Sysco makes up 0.8% of Constitution Capital LLC’s investment portfolio, making the stock its 24th largest position. Constitution Capital LLC’s holdings in Sysco were worth $1,399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Armstrong Advisory Group Inc. raised its holdings in shares of Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Sysco in the third quarter worth $26,000. Valley Wealth Managers Inc. bought a new stake in shares of Sysco in the third quarter valued at $31,000. Focused Wealth Management Inc purchased a new position in shares of Sysco during the 3rd quarter valued at $37,000. Finally, Canoe Financial LP bought a new position in shares of Sysco during the 3rd quarter worth $38,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Sysco stock opened at $73.17 on Friday. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The stock has a market cap of $35.95 billion, a P/E ratio of 18.81, a price-to-earnings-growth ratio of 1.93 and a beta of 1.18. The firm’s fifty day moving average price is $76.88 and its 200-day moving average price is $75.77.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. During the same quarter in the previous year, the business earned $1.07 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts expect that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Friday, January 3rd. Sysco’s payout ratio is currently 52.44%.

Insider Transactions at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sheila Talton sold 2,900 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the sale, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,306 shares of company stock worth $6,485,050. 0.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

SYY has been the topic of a number of recent research reports. Melius assumed coverage on shares of Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. Wells Fargo & Company dropped their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday. Finally, Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.93.

Sysco Company Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.